We’re interested in learning more about your business and your plans for growth! Our banking team works to understand your business and builds a lending solution to suit your needs.
Move Your Business Forward
We understand no two businesses are alike. Whether you're a
professional practice, a corporation, or a startup, at Metropolitan Bank,
you'll have access to our local lending decision-makers, personal
attention, and no red tape.
Metropolitan Bank can help you determine if a business loan or a business line of credit is the right option for you.
You can also apply for business financing by filling out our Business Loan Application (Opens in a new Window) and mailing it to our office.
Please Note: We may require you to complete a comprehensive Personal Financial Statement (Opens in a new Window) to evaluate your Business Loan Application as well.
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All credit is subject to review and approval.
Government-Guaranteed (SBA) Lending
Small businesses are an integral part of the US economy, and the government wants to encourage them. In fact, the Small Business Administration (SBA) is a government agency specifically established to help small businesses succeed. The agency works to provide support and resources as well as loans to small businesses that might otherwise struggle to get financing from other sources. The SBA partners with financial institutions such as Metropolitan Bank to offer financing to smaller companies in Pennsylvania.
As a bank that offers SBA loans, Metropolitan Bank' SBA lenders are
experienced guides to help you access cash and capital to purchase real
estate, start construction, finance growth, acquire new equipment, and
improve cash flow. SBA loans offer
more collateral flexibility, longer-term loans, no balloon payments to
negotiate, and most carry no prepayment penalties. From SBA
7(a) loan requirements to qualified SBA 504 loan options
to guidance on sba.gov eligibility forms and applications, our bank
offers SBA loan resources to improve your business in Pennsylvania.
Commercial Real Estate
Commercial real estate is a crucial part of many businesses. Your business property can have a significant impact on your business. If your retail space or company relies heavily on walk-by traffic or in-person business, the right office or location can make a tremendous difference to your bottom line. Metropolitan Bank is here to help you learn how to get a commercial real estate loan to move your business forward.
Even if you do part or much of
your business online or over the phone, the right business space can
improve productivity, personnel morale, and business success. Business
real estate can also provide your business with a crucial asset to
improve your organization's financial well-being. Simply put — with
property, you have more options for success.
You may need financing for several commercial real estate transactions, including:
- Purchasing your first office, retail, or commercial space.
- Leasing a commercial space.
- Refinancing the loan on an existing piece of industrial or commercial real estate.
- Expanding your business and acquiring new property.
- Constructing or renovating business property.
Whether you're acquiring, refinancing, expanding, developing, or
building, the lenders at Metropolitan Bank have the expertise you need to
guide you through the process. To plan for your next project, contact a
business lender today.
Business Lines of Credit
Giving you the flexibility to draw funds as needed, a business line or letter of credit enables your business to better manage cash flow while meeting your short-term working capital needs. Business loans and lines offer:
- Secured and unsecured working capital and inventory lines
- Asset acquisition lines
Business lines of credit and letters of credit can help you pay for
working capital for business. As revolving types of financing, lines
and letters of credit provide you with the flexibility your business
demands. When you need it, financing is available in your line or letter
of credit to pay for inventory, personnel, seasonal increases in
business, and other needs. When business is good, you can use extra
revenues to repay your credit line, so it's available when needed.
Commercial Term Loans
Business Term Loans have a fixed term with various maturities and a defined periodic payment. They provide funds for the purchase of equipment and other assets such as:
- Vehicle and equipment loans
- Working capital
- Seasonal time notes
Running your business costs money, and you need cash or financing
to pay for the products you need for your organization. Commercial term
loans offer you financial support now so you can focus on growing your
company.
Financing for Doctors and Professional Practices
Doctors and healthcare practices of all kinds have unique financing needs when compared with other industries. These businesses often have high overhead costs, including large insurance premiums, higher personnel costs, and extensive equipment budgets.
To succeed, healthcare practitioners and facilities need to offer
the latest medical equipment and the best possible personnel for their
patients. All of that costs money, meaning doctors and healthcare
practices may need unique forms of financing to help pay for these
costs.
Metropolitan Bank recognizes business loans for doctors shouldn't look
like loans for any other business. We recognize the contributions our
healthcare professionals make to our Pennsylvania communities. In
return, we offer personalized attention and custom-fit loans and
financial products designed specifically for the healthcare industry
through our Doctor Metropolitan Bank division.
To learn how a personalized banking relationship can benefit your practice, contact Metropolitan Bank to set up an appointment.
- Up to 100% financing
- Practice acquisition
- Buy-ins and buy-outs
- Startups
- Debt refinancing
- Real estate purchase, expansion, or renovation
- Equipment and working capital
All credit is subject to approval.
Speak with a business financing expert today!
Our lenders will listen to your business plans and provide expert
advice. To discuss which business financing solution might be right for
your organization, contact one of our commercial lenders online.
Frequently Asked Questions
Should I Get a Business Loan or Line of Credit?
Generally, business loans are ideal for large, one-time investments
or purchases for your business paid back over time with interest.
However, lines of credit are designed for short-term financial needs and
are better for ongoing, small, or unanticipated expenses. If you don't
use it, you won't have to make any payments.
Like many things pertaining to your business's financials, there's
no silver bullet for getting the right capital. Considering your needs,
business track record, and long-term goals are paramount in determining
what type of financing is best for you.
What Credit Score Is Needed for a Business Loan?
For
business owners seeking a business loan, high interest rates can seem
intimidating. However, the better your credit score, the more likely you
can get a low loan rate. Lenders tend to look at both personal and
business credit scores and history. Since most small business owners do
not have business credit, personal credit is of great importance.
Usually, you need a credit score of at least 600 to get a business loan.
How Do I Get a Commercial Real Estate Loan?
Before
funding a commercial real estate loan, major lenders typically require a
downpayment between 20-30% of the property purchase price. You will
need to provide a detailed business plan, and possibly financial
documents to prove your business's financial strength. That said, no two
organizations in Pennsylvania are exactly the same — consult one of our
commercial real estate loan lenders for more information.